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The IRS is encouraging taxpreparers to complete their IRIS applications to begin transitioning for the 2027 season. FIRE will not be available for submissions in filing season 2027. The Information Returns Intake System, or IRIS, will be the only intake system for information returns now received through FIRE.
Taxpayers have up to six months after the due date of their federal income tax return for the disaster year (without regard to any extension of time to file) to make the election. Taxpreparers or taxpayers should write the relevant FEMA declaration number — 4874-DR for Mississippi, 4871-DR for Texas — on any return claiming a loss.
TaxPlanIQ adds new features Pavel Bolotov/pashabo - stock.adobe.com Taxplanning solutions provider TaxPlanIQ rolled out several new features. A Multi-1040 Uploader and Opportunity Analyzer allows bulk upload of up to 100 client returns at once.
Trout CPA ( [link] ): Financial management, with a heavy dose of tax considerations, for funeral homes. Jeff Stimpson Freelance writer For reprint and licensing requests for this article, click here.
EDT 6 Min Read Facebook Twitter LinkedIn Email By any other name; poor Service; a saga continues; and other highlights of recent tax cases. Rockford, Illinois: Taxpreparer Gretchen Alvarez, 49, has pleaded guilty to preparing and filing false income tax returns.
Set up recurring digital workflows: Automate monthly tasks like reconciliation or reporting through tools such as Microsoft Power Automate or accountingsoftware integrations. Integrate two-factor authentication for system logins: Adds an extra layer of protection for remote or cloud access. Regularly review retention policies.
Instead, accounting firms should move toward packaging their services into monthly retainers — turning what used to be a once-a-year interaction into a continuous relationship. Whether its monthly bookkeeping, quarterly taxplanning or ongoing advisory services, subscription models drive consistent revenue and strengthen client loyalty.
aims for operational excellence July 21, 2025 10:01 AM 2:36 Facebook Twitter LinkedIn Email Transcription: Transcripts are generated using a combination of speech recognition software and human transcribers, and may contain errors.
The San Francisco-based companys reports, which are designed for clarity and compliance, include: Tax Return Analysis Report, which reveals tax-saving opportunities in tax returns for individuals (1040) and businesses (Schedule C, E, F, 1120, 1120S, 1065).
Platform Accounting expands in Chicago Platform Accounting Group building in Holladay, Utah Platform Accounting Group has added Madison Street Advisors, formerly known as McCormick Tax Group, based in downtown Chicago, extending Platforms footprint in the Midwest.
Bakersfield, California: Taxpreparer Victor Cruz, 40, has pleaded guilty to helping Miguel Martinez, a Mexican national who was in the U.S. illegally, submit fraudulent individual federal income tax returns that claimed $25 million in refunds. Sentencing is Oct. Coco owns Century Asphalt Maintenance, a driveway sealing company.
Trout CPA ( [link] ): Handy rundown of current tax law versus OBBBA. The Tax Times ( [link] ): What reform means for GILTI and U.S. Parametric ( [link] ): And the bills impact on mid-year taxplanning. corporate taxpayers. What happens if the IRS doesnt?
EDT 5 Min Read Facebook Twitter LinkedIn Email Seeking shelter; please be Gentle; where the heart is; and other highlights of recent tax cases. Nixa, Missouri: Taxpreparer Tina Louise Yager has pleaded guilty to making false and fictitious claims against the U.S. and to wire fraud. Sentencing is Sept.
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